Could AIG Be Next?

17092008

I haven’t seen a cataclysmic event like this in a long time. First, Lehman Brothers filed for bankruptcy. Then Bank of America bought Merrill Lynch for, if I’m not mistaken, $50 billion. When Monday came, everything happened like a surreal nightmare. Now, my question is this – could AIG be next? AIG is still fortunate enough to have $20 billion given by New York state authorities to have one more day in the summer. Well, something like that. Honestly I don’t think this is enough for AIG to make it survive in this huge credit crunch. AIG isn’t just an insurance company but also offers various products as well. Could the entire organization be the target of this plague credit crunch? I think AIG can hopefully float long enough to survive in this fierce storm. If AIG, one of the biggest name in insurance industry, be the next prey in this event, anything is practically possible Check out the news from BBC.